Legal Bitcoin Gambling – How To Gamble Online Legally With Bitcoins

Is Bitcoin Gambling Legal In The US?

To answer this question, we need to understand what the current laws say about online gambling in the United states. In a nutshell, there are no federal laws that specifically make online gambling illegal in the United States from a players perspective. Anyone that tells you differently is either lying to you or doesn't know what they are talking about. The laws make it illegal to accept bets on US soil such as what a local bookie running an illegal website might be doing. But the laws do not make the act of placing bets illegal. This is the very reason why all the bitcoin gambling sites are located offshore so they don't run afoul of U.S regulations. You can learn more on our bitcoin gambling laws page.

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Main Areas Of Gambling We Cover On LegalBitcoinGambling.com

Bitcoin Basics, Bitcoin Gambling Benefits And FAQ's

Benefits and answers to frequently asked questions about Bitcoin, gambling and legalities for US players.

What Is Bitcoin?

Bitcoin was created in 2009 by an anonymous group of programmers that go by the name of Satoshi Nakamoto. Bitcoin is a peer-to-peer payment system that is decentralized and works on blockchain technology. It’s basically digital money that has varying value that goes up and down almost every day of the week.

What Is The Blockchain?

The blockchain is what makes Bitcoin what it is. The Blockchain is basically a digital record of all the bitcoin transactions that take place. All transactions are recorded chronologically in the public ledger so everyone can see them. You can think of it as an ever-updating spreadsheet that has been duplicated millions of times across the entire network computers that have dealt with bitcoin transactions. There is no individual location for the blockchain database which makes it incorruptible.

Who Sets The Value Of Bitcoin?

The market. Bitcoin is not backed by any physical asset or good and can’t be traced back to anything that has any real-world value. The value of each bitcoin is set by the other people in the world that are willing to pay that amount. The value increases and decreases based on the value that other people have set on the individual bitcoin. That desire is measured by the transactions listed in the blockchain and how they relate to the way bitcoins are bought and sold. Currently, the value of 1 bitcoin is set to over $3000 USD.

How To Buy Bitcoin

How To Store Your Bitcoin

In terms of storage bitcoin gives you many options. Storing small amounts of bitcoin on the exchange where you bought isn’t a bad idea but it comes with some things you should know. Exchanges are big targets for hackers looking to steal bitcoin from members and this has happened pretty frequently to various exchanges around the world since the creation of Bitcoin. A better solution would be to transfer your bitcoin to an off-exchange bitcoin wallet. Online wallets are safer but still susceptible to hacking, these wallets can be accessed from anywhere you can find an internet connection. Hardware wallets are much safer. These are physical devices that are designed specially to secure your private keys and keep them safe. Devices like read only USB drives that you can plug in and use like cash through online stores are hardware wallets.

How To Use Bitcoin To Gamble

Once you have successfully registered at an exchange, bought bitcoin and then decided which wallet you want to store it in, the next step is transferring to your favorite online gambling website. Most of the time this is done the same way you transferred your bitcoin from the exchange to your wallet. You will be provided with a wallet address. You can use that address in online gambling websites to make deposits for any amount of bitcoin you desire.

Anonymity

While bitcoin is not completely anonymous due to the fact that you can track the history of a bitcoin address, it is pseudo-anonymous. Think of it like writing under a pseudonym name. Nobody knows who who specifically is tied to a bitcoin address. But if they ever did find out, they would be able to see the entire history of that particular address.

An example would be transferring money to your coinbase account and requesting a fiat withdrawal. Because bitcoin would have the address you sent the funds from, in theory they could track your history through that address. It's a very generic example but it should give you a general idea on anonymity of bitcoin.

Anonymous Bitcoin Gambling Sites

Some of the bitcoin gambling sites allow players to gamble without even registering. This is a very nice feature for obvious reasons.

Bitcoin Casino Bonuses

Nearly all of the bitcoin gambling sites offer very attractive bonuses to new players. This is mainly due to the fact that online gambling is extremely lucrative and all the sites are competiting with one another for your business.

Are Bitcoin Gambling Sites Licensed And Regulated?

The sites we recommend are all licensed and heavily regulated to ensure fair gambing and business practices. So while there are thousands of sites you can gamble at, we choose to list the biggest and most reputable sites that have been around for years. You are guaranteed to get paid when you win at any of the sites we endorse.

Are There Any USA Friendly Gambling Sites That Accept Bitcoin?

Absolutely. Infact all of the sites listed here on legal bitcoin gambling are U.S. friendly. They can legally accept American players because they are located outside of the United States in an offshore jurisdiction where online gambling is lawful.

Is Bitcoin Gambling Legal In The United States?

Yes, one could make a case that gambling with Bitcoin is legal in the United States simply because there aren't any laws that specifically make it illegal.